Vector V51 SBR

richgetsy

NES Member
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Amherst, MA
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A new Vector V51 SBR.
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My paper work was sent November 13, 2008, my dealer called me on January 14th, 2 months. It was done on a trust, no photo's no prints, no begging the chief to sigh it.

Wow not bad at all, really. How easy was the trust route? Did you set it up yourself? Or have a lawyer do it? I've been swaying back and forth with asking the chief vs just going around that whole thing while I appropriate the funds for the sbr.
 
Wow not bad at all, really. How easy was the trust route? Did you set it up yourself? Or have a lawyer do it? I've been swaying back and forth with asking the chief vs just going around that whole thing while I appropriate the funds for the sbr.

The trust route is so easy. I had a lawyer set it up for me, I didn't want any mistakes. It took him 2 days. If your going to do anyother NFA stuff, a trust is a good idea.
 
The trust route is so easy. I had a lawyer set it up for me, I didn't want any mistakes. It took him 2 days. If your going to do anyother NFA stuff, a trust is a good idea.

A lawyer is always a good idea when a screw up could put you in jail.
 
A lawyer is always a good idea when a screw up could put you in jail.

When you use software like Quicken Willmaker or similar it's nearly impossible to screw up the trust documentation. Even still, I went over mine numerous times and had a lawyer read it over for accuracy. No changes needed to be made, I took it to have it notarized and voila, a new legal trust was created. One of the biggest mistakes is people who improperly amend the original trust, which will cause problems. The first NFA item you put in your trust is cake, as you literally type it into the Schedule A(list of property) and fill out the assignment of property document to go with it. Each time you add something, add it to the schedule A and fill out a new assignment of property. Keep all your ducks in a row and keep that document in a three ring binder and in a safe deposit box or safe.

In the end, the only real screw up to be made is to lose or destroy that paperwork and then be questioned for it. Same goes for the tax stamp when you receive it back.


EDIT: Sorry JonJ, didn't mean to go at you with that one, but alot of people are scared to do an SBR because of the paperwork. The resources available for assistance on doing the paperwork are EXTENSIVE online. There are so many pdf's of completed trusts and tax stamps it's really hard to screw it up. Not to mention, on this forum there are GREAT people to help, abomb specifically answered numerous questions I had. Now that I've done the paperwork I'd be more than happy to assist someone in doing it.
 
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